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Medical Loss Ratio Rebates Will Be Mailed in Early August
by Amber Bair » Monday, August 14, 2017 6:17 AM
     Regarding   »  Florida Blue


Florida Blue will send a letter with a check to group benefit administrators to let them know that their group received a rebate.
 
Impacted Groups
 
Small Group (Fully Insured HMO and PPO Plans) & Large Group (Fully Insured HMO Plans): Group Business Administrator Sample Letter
 
 
Groups Not Receiving Rebates include:
• Fully insured large groups with PPO plans
• All self-insured groups are excluded
 
Employers can distribute this rebate to their employees in one of two ways:
• Reduce premium for the upcoming year or
• Provide a cash rebate to employees or subscribers that were covered by the health
   insurance on which the rebate is based
 
If you have specific questions about the MLR rebate:
• Visit www.floridablue.com/hcr/medical-loss-ratio
• Visit www.healthcare.gov/health-care-law-protections/rate-review/
• Contact the Department of Labor's Employee Benefits Security Administration at
   866-444-3272
• Call Florida Blue at 866-728-7034 
 
 


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PCORI fees due by July 31st!
by Amber Bair » Thursday, July 27, 2017 12:34 PM

The Affordable Care Act imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the Patient-Centered Outcomes Research Institute.
Self-funded customers must file Form 720 and pay the PCORI fee directly to the IRS. The fee is due by July 31 of the calendar year immediately following the last day of the plan year. For example, a customer that started a self-funded plan 1/1/16 would have to report by 7/31/17 as their plan year ended 12/31/16. Groups with later effective dates in 2016 wouldn't file until 2018 as the last day of their plan year would fall in 2017. Please visit the IRS link referenced for additional information.
 

Reporting and Paying the Fee

 
 
 
The payment should be applied to the second quarter (in EFTPS, select Q2 for the Quarter under Tax Period on the "Business Tax Payment" page).


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Member Outreach to Update Information for IRS
by Amber Bair » Thursday, July 27, 2017 9:53 AM
     Regarding   »  Florida Blue


Florida Blue is required to report to the IRS a list of their members who are enrolled with minimum essential coverage (MEC). This is to ensure that members get credit for having coverage, as required by the Affordable Care Act.
Fully Insured Groups
• We need members to update their name, Social Security number or date of birth so Florida Blue’s    records match those at the IRS
• Members should contact their HR representative to make updates
• If members don’t update their information, they could be assessed a $50 penalty by the IRS
 
 



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2018 HSA Guidelines Released
by Amber Bair » Tuesday, June 06, 2017 10:56 AM


2018 vs. 2017 HSA Contribution Limits

Contribution and Out-of-Pocket Limits
for Health Savings Accounts and High-Deductible Health Plans

20182017Change
HSA contribution limit (employer + employee)Self-only: $3,450
Family: $6,900
Self-only: $3,400
Family: $6,750
Self-only: +$50
Family: +$150
HSA catch-up contributions (age 55 or older)*
$1,000$1,000No change**
HDHP minimum deductiblesSelf-only: $1,350
Family: $2,700
Self-only: $1,300
Family: $2,600
Self-only: +$50
Family: +$100
HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums)Self-only: $6,650
Family: $13,300
Self-only: $6,550
Family: $13,100
Self-only: +$100
Family: +$200
* Catch-up contributions can be made any time during the year in which the HSA participant turns 55.
** Unlike other limits, the HSA catch-up contribution amount is not indexed; any increase would require statutory change.


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New Due Dates for Furnishing the 2016 Forms 1095-B and 1095-C
by Amber Bair » Monday, January 16, 2017 2:12 PM

Certain due dates for the 2016 information reporting requirements under IRC sections 6055 and 6056 have been extended.
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New Due Dates for Furnishing to Individuals the 2016 Forms 1095-B and 1095-C -- 30-NOV-2016

Certain due dates for the 2016 information reporting requirements under IRC sections 6055 and 6056 have been extended.

The due date for furnishing to individuals the 2016 Form 1095-B, Health Coverage, has changed from January 31, 2017, to March 2, 2017.

The due date for filing with the Service the 2016 Form 1094-B, Transmittal of Health Coverage Information Returns, and the 2016 Form 1095-B, Health Coverage, remains unchanged. The due date is February 28, 2017; if filing electronically, the due date is March 31, 2017.

The due date for furnishing to individuals the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, has changed from January 31, 2017, to March 2, 2017.

The due date for filing with the Service the 2016 Form 1094-C, Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, remains unchanged. The due date is February 28, 2017; if filing electronically, the due date is March 31, 2017.

As a result of these extensions, individuals might not receive a Form 1095-B or Form 1095-C by the time they file their 2016 tax returns. Taxpayers do not need to wait to receive Forms 1095-B and 1095-C before filing their returns. For further guidance, please see Notice 2016-70.



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